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Banking industry

Leadership Shakeup at Bank One in Michigan

Strategic Insights

— 1 min read

Walter C. Watkins Jr., the president of Bank One in Michigan and head of Middle Market banking, is retiring after 32 years with the company, effective September 30. Watkins' successor, Richard R. Wade, has been appointed by Bank One Chairman and CEO James Dimon, who praises the talent and experience of the departing executives. Wade, the current chief risk management officer, will take on the responsibility of leading middle market banking in Michigan, Ohio, Kentucky, and West Virginia.

Key Takeaways:

  • Walter C. Watkins Jr. is retiring as president of Bank One in Michigan and head of Middle Market banking after 32 years with the company, effective September 30.
  • Richard R. Wade, the Corporation's chief risk management officer, will succeed Watkins as president of Bank One in Michigan and head of Middle Market banking.
  • Sarah L. McClelland, current chief credit officer for Middle Market banking, will replace Wade as chief risk officer.
  • Watkins joined the bank as a management trainee and has held senior management positions in corporate and middle market banking, including becoming president of Bank One in Michigan in 1998.
  • Wade has spent most of his career serving middle market and corporate customers in Michigan and has served as co-chief credit officer, head of National Banking, and chief risk officer in Chicago.
  • McClelland has served in numerous senior credit and lending roles, including chief credit officer for Middle Market banking, and has been with the company since 1983.
  • Bank One Chairman and CEO James Dimon praises the talent and experience of Watkins, Wade, and McClelland, stating that they have grown up in the NBD culture, which prioritizes serving customers well while managing the Corporation's risk.

Statistics:

  • Bank One has assets of over $272 billion.
  • The company operates about 250 banking centers and 500 ATMs in Michigan.
  • The bank's headquarters is listed on the New York Stock Exchange (NYSE) under the ticker symbol ONE.

Sources:

  • PRNewswire, July 24
  • Bank One CORPORATION

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